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Markets · Investing · Business
Finance
2 Fintech Stocks to Buy After Losing Over Half Their Value
SoFi and Circle are both babies that were tossed out with the bathwater.
Last year, many fintech stocks rallied to record highs as investors expected the Federal Reserve to finally cut its benchmark rates and spur more lending and fresh economic growth. But this year, many of those stocks collapsed as the Iran war, inflation, and other macro headwinds drove the Fed to actually raise interest rates for the first time in three years in September.
SoFi(NASDAQ: SOFI) and Circle(NYSE: CRCL) were two of those fintech stocks that lost over half their value during that market pullback. Let's see why investors dumped these two high-growth stocks, and why they might be worth nibbling on as turnaround plays.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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